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A payday loan or cash advance is a short-term, fast and unsecured loan which provides you with the money whenever you are experiencing temporary financial troubles. As regards charges, most payday loans require you to repay extra $24 for every $100 that you borrow.

In order to see how your payback changes according to the borrowed sum, see the following chart:

* These are example fees and may not be
representative of all lenders of Crazycash-au.com
** The data considers a loan being repaid within one month

WHY IS ANNUAL PERCENTAGE RATE (APR) SO HIGH?

The legal regulations require the lenders to show their interest rates in the form of Annual Percentage Rate (APR) and APR describes the interest rate for a whole year (annualized) rather than just a monthly rate. This constitutes a good point of reference when you are considering taking out a mortgage or any other loan that you will be repaying for 1 year or more. By comparing and analysing APR offered by different lenders, you’ll be able to choose the best one for you.
In the case of short-term loans such as payday loans, APR will not be so important for you since you’ll be repaying the loan in less than 1 year. Typically, a payday loan is repaid on or before a borrower’s next payday.
Therefore, when expressed in APR, a payday loan may seem very expensive, but, bearing in mind that it will be repaid within a month, it will cost you only $24 for every $100 borrowed. That’s why we focus not on the APR but on the exact amount that you need to pay back.

FINANCIAL PENALTIES FOR DEFAULTS OR LATE PAYMENTS

Your loan agreement will explicitly state all the details related to this particular loan. Perhaps the most important piece of information for you, apart from the very loan amount, is the repayment date. The money you are borrowing need to be repaid in full before or on the specified date. If you fail to meet this deadline, the lender will charge additional fees for late payment which, in turn, will increase the total amount of your debt. Also, when you are repaying the money borrowed, please consider any non-working days (such as weekends, bank holidays) as they slow down the process of transferring money.

FEES

crazycash-au.com is not a direct lender and hence it does not apply any charges for its services. All the fees or charges you may incur will be specified by your lender in your loan agreement. On our part, we carefully choose the lenders we cooperate with, paying close attention to the practices they adopt in order to make sure our customers are provided with the best service possible. Also, we do our best in order to make the application process simple and hassle-free for you:

Being a customer of Crazycash-au.com you will NOT be charged the following:

ARE YOU WONDERING WHAT THE COST OF A PAYDAY LOAN IS?

What If I Can't Pay The Loan Back On Time?

The fee for missing repayments is around $35, although it may vary according to the lender. However, the very first thing you need to do is inform the lender immediately so that they can reschedule the repayment.
Your lender will try to contact you in order to arrange the repayment on conditions that will be convenient for both sides. However, you need to be aware that if your account is still unresolved, your daily fees will accumulate.

In the situation when the lender is unable to regain the money from you, the case will be passed over to our external collector and a payment default may be placed on your credit file. This, in turn, is likely to affect your credit history for up to 5 years. In order to avoid this situation, remember to always inform your lender whenever you are having trouble repaying, so that they can work out a satisfactory solution.

Renewal Fees.

Certain lenders may let you renew the loan. However, you need to remember that there are applicable fees in such a situation so contacting your lender beforehand is advisable.